At the end of Flounder Department Store's fiscal year on November 30, 2020, these accounts appeared in its adjusted trial balance. Freight-in $7600 Inventory 40,900 Purchases 585,200 Purchase D 5,900 Purchase Returns and Allowances 2.800 Sales Revenue 1.164,700 Sales Returns and Allowances 20.000 Additional facts: 1. Merchandise inventory on November 30, 2020, is $ 51.800. 2 Flounder Department Store uses a periodic system. Prepare an income statement through gross profit for the year ended November 30, 2020. (Enter negative amounts using either a negative sign preceding the numberes. -45 or parentheses es (45).) FLOUNDER DEPARTMENT STORE Income Statement (Partial)

At the end of Flounder Department Store's fiscal year on November 30, 2020, these accounts appeared in its adjusted trial balance. Freight-in $7600 Inventory 40,900 Purchases 585,200 Purchase D 5,900 Purchase Returns and Allowances 2.800 Sales Revenue 1.164,700 Sales Returns and Allowances 20.000 Additional facts: 1. Merchandise inventory on November 30, 2020, is $ 51.800. 2 Flounder Department Store uses a periodic system. Prepare an income statement through gross profit for the year ended November 30, 2020. (Enter negative amounts using either a negative sign preceding the numberes. -45 or parentheses es (45).) FLOUNDER DEPARTMENT STORE Income Statement (Partial)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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